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Investments glossary

Bandwagon Effect


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(W)e need to ensure our national drug policy reflects the increase of drugs crossing the U.S.-Mexico border, we also need to equip our drug and law enforcement officers with the resources they need to fight back against this epidemic.

— Shelley Moore Capito

The bandwagon effect is a psychological phenomenon in which people do something primarily because other people are doing it, regardless of their own beliefs, which they may ignore or override. This tendency of people to align their beliefs and behaviors with those of a group is also called a herd mentality. The term bandwagon effect originates from politics but has wide implications commonly seen in consumer behavior and investment activities. This phenomenon can be seen during bull markets and the growth of asset bubbles.

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